NOT JUST PRODUCTS There is a misconception implied or articulated that innovation is all about developing better products. Well, to begin with innovation is first and foremost about markets. True innovation involves understanding, engaging with and responding to markets. Secondly innovation is about much more than products. Clearly services can be innovated, as can: Business […]

NOT JUST PRODUCTS There is a misconception implied or articulated that innovation is all about developing better products. Well, to begin with innovation is first and foremost about markets. True innovation involves understanding, engaging with and responding to markets. Secondly innovation is about much more than products. Clearly services can be innovated, as can: Business models and processes Distribution and delivery Packaging and presentation Service delivery and standards Apple innovated in the way it delivered music to the world, first through a product – with the i-pod – and then through a service – iTunes. Amazon, some years ago innovated first in terms of how it distributed (or sold) its product – online and then in terms of the delivery technology – Kinder and audio books. Media organisations like Google and Facebook innovated first in their business model – making the user the product – and then in terms of business…